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Lennar surges after strong quarter

Jon "DRJ" Najarian (ask-drj@optionmonster.com)

Homebuilder Benefits From Higher Prices

Lennar reported second-quarter profit of $0.66 a share, twice the $0.33 expected by Wall Street analysts. Revenue of $1.43 billion also breezed past the $1.33 billion consensus forecast. LEN rallies 5 percent before the opening bell on my tradeMONSTER platform.

Walgreen Results Lag the Street

Walgreen earned just $0.85 in its third quarter, missing the $0.91 average analyst estimate. Sales of $18.3 billion missed the $18.43 billion forecast, as well. WAG declines 5 percent in the premarket.

Mellanox Gains on Microsoft Hopes

Microsoft is reportedly working on a massive server farm in Iowa, and Clal Finance is predicting that Israel semiconductor company Mellanox will be a supplier for the project. That has MLNX up 4 percent in early trading.

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